Lee AdlerWe have finally seen the effects of the bond market crisis in dealer inventories, and it isn’t pretty. Dealer inventories have plunged by $166.6 billion…
We have a darn good idea of when the US Government will run out of money. We know when it will start slamming the market with even more supply. Huge supply. Record supply. The biggest baddest, most persistent tsunami of supply in history.
It will wipe out everything in its path. There will be no escape.
We have a darn good idea of when the US Government will run out of money. We know when it will start slamming the market with even more supply. Huge supply. Record supply. The biggest baddest, most persistent tsunami of supply in history.
It will wipe out everything in its path. There will be no escape.
Stock buybacks have been widely reported as being responsible for much of the bull market. That is undoubtedly true. Buybacks reduce the supply of equities,…
What else is new? Tomorrow, the Fed talks. But Fed talk is cheap. The Fed wants you to think that talk – its talk –…
The US Treasury’s attempt to rescue the Treasury market began in mid February. It’s not going well. They’ve managed to stop the hemorrhaging. Prices have…
The bear market in Treasuries that started in August devolved into an outright crash last week. Meanwhile, evidence shows that cash in Primary Dealer accounts…
And I’ve spewed a whole lot of words over the past 3 weeks. Scary words. Words including warnings that one of the titans of the…
Let’s talk about the confusion around QE cause and effect, with financial bubbles and money supply. And let’s get to the point — the proof of how QE actually enters the banking system AFTER it gets pumped into the markets, not before.
The Primary Dealers always hedge their fixed income portfolio positions in the futures markets. Looking only at their bond portfolio positions may not give us…
Back in 2008-2009, I chronicled how the Primary Dealers caused the stock market crash. They were the most important and least recognized cause of what…
In the mid month QE update, I concluded the intro summary with this warning: 1/16/21 At this point, it seems like we are on the…